A closely followed crypto trader believes that Dogecoin (DOGE) could be gearing up for a massive rally to the tune of over 530%.
Analyst Ali Martinez tells his 59,800 followers on the social media platform X that Dogecoin has remained faithful to a pattern seen during the 2017 and 2021 bull cycles.
According to the trader, DOGE appears to be consolidating in preparation for a big rally en route to a fresh all-time high.
“Dogecoin is showing its classic pattern once again! DOGE is currently consolidating after breaking out from a descending triangle.
Based on past trends, we might just see DOGE rocket toward $1 in the coming weeks!”
Source: Ali Martinez/X
At time of writing, DOGE is trading for $0.158, suggesting an upside potential of 538% if the top memecoin hits the target.
Zooming in, Martinez says that the Tom DeMark (TD) Sequential Indicator just flashed a bullish signal on DOGE’s daily chart.
Traders use the TD Sequential Indicator to predict potential trend
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